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Middle East Tensions Send Oil Prices Soaring Above $100

Guavy AI Editorial Team
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Oil
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Oil prices have risen above $100 a barrel as Middle East supply fears intensify.

The Brent crude futures price gained 1 percent to $108.68 in early trading, while U.S. West Texas Intermediate rose 1 percent to $103.45. These benchmarks had climbed more than 6 percent the previous day.

The surge comes after Iran's Islamic Revolutionary Guard Corps warned it would increase its response to further attacks following Iranian strikes on 10 ships near the Strait of Hormuz on September 9.

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